The Nebraska Investment Council is planning to withdraw an original $167 million investment to Barings Core Property Fund and reinvest the capital into a core fund managed by Clarion Partners, according to board meeting documents.
Nebraska currently has investments in three core real estate funds, which include UBS, Prudential, and Barings (formerly Cornerstone). The Defined Benefit Plans and Cash Balance Benefit Plans recommended redeeming its investment in Barings and, in addition, making a new $60 million commitment to Clarion Partners Lion Properties Fund, subject to completion of a legal review and satisfactory agreement of terms.
Clarion Partners Lion Properties Fund is an open-end, diversified core real estate fund that focuses on strong income returns with potential for long-term capital appreciation.
